MIP #44 - Support the Reduction of PNP Emission for mPendle Staking Pools

Abstract

This proposal seeks to gather votes from vlMGP holders on whether Magpie should support Penpie’s PIP #13, which aims to reduce PNP emission rates to achieve a targeted APR of 20% for mPendle staking pools. This aligns with our objectives of optimizing revenue sharing, sustaining token value, and enhancing stakeholder engagement across the ecosystem.

Motivation

Supporting PIP #13 will allow Magpie to align its strategies with Penpie’s efforts to optimize PNP emissions. The proposed reductions are based on strategic needs:

• Ethereum: Ceasing emissions as the pool already reaches the desired 20% APR due to its higher revenue share.
• Arbitrum: Reducing emissions by 25% for mPendle staking and 66% for the Stability Vault to balance revenue sharing benefits.
• BNB Chain: Significantly cutting emissions by 70% to match its lower TVL. By consulting vlMGP holders, we ensure our actions reflect the community’s best interests and support a stable, rewarding environment for stakeholders.

Specification

Vote on whether Magpie should support Penpie’s PIP #13 to adjust PNP emission rates as described.

https://snapshot.org/#/penpiexyz.eth/proposal/0x8ab72d763f61983147385a2259b902fb7fd1643c8b99dc2bd080054bcc3ed3ad